Report : Europe Tissue Engineering Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Material Type (Synthetic Material, Biologically Derived Materials, and Others) and Application (Orthopedic, Musculoskeletal & Spine, Neurology, Cardiology & Vascular, Skin & Integumentary, Urology, GI & Gynecology, Cancer, and Others)
At 12.0% CAGR, the Europe Tissue Engineering Market is speculated to be worth US$ 8,520.70 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe tissue engineering market was valued at US$ 3,859.49 million in 2021 and is expected to reach US$ 8,520.70 million by 2028, registering an annual growth rate of 12.0% from 2021 to 2028. Strengthening technological advancements in the field of 3D tissue engineering and growing number of road accidents and trauma injuries, and elevating incidence of chronic diseases.
3D bioprinting has rapidly transformed the healthcare sector in the last few years. This technology has advanced the development of tissue with clinical potential, paving the way for high-throughput applications for drug discovery. 3D bioprinting tissue-engineering helps in the healing of injuries; new breakthroughs in the 3D printing technique are projected to offer a potential treatment option for organ failure in future. Many research organizations are working toward finding new therapies to treat organ failure and repair cells of damaged tissues. For instance, in 2017, researchers at Penn State University discovered a revolutionary way to print tissues and organs with the use of an “electrospinning printer” that spins fibers seeded with cells to create fiber layers. This technology is both cheaper and offers an opportunity to spin polymer fibers such as collagen layers with precision and in a more controlled manner. In addition to this, scientists at George R. Brown School of Engineering reported the construction of a 3D printed organ that mimics lungs. In April 2019, a researcher at Tel Aviv University printed the world’s first 3D engineered, vascularized heart using a patient’s own cells and biological materials. With advances in stem cell research, intelligent biomaterials, and three-dimensional biofabrication strategies, highly mimicked tissues or organs can be engineered. Future advances in bioprinting include the integration of different printing mechanisms to produce biphasic or triphasic tissues with optimized scaffolds and a further understanding of stem cell biology. More recently, 3D printing has promised tissue manufacturing with micro- to macro-scale structural control through a layer-by-layer approach. Through 3D reconstructions of scanned lesions, bioprinting can precisely deliver cells, growth factors, and biomaterial scaffolds to repair the lesion with different shapes and thicknesses. A promising direction is to combine the bioprinting approaches based on other mechanisms to meet the various challenges. Increasing government funding for research activities is expected to enhance the growth of the tissue engineering market.
On the contrary, expensive cost of treatment options involving tissue engineering.
Based on material type, the Europe tissue engineering market is segment into biologically derived materials, synthetic materials, and others. The biologically derived materials segment held 52.5% market share in 2021, amassing US$ 2,026.57 million. It is projected to garner US$ 4,499.00 million by 2028 to expand at 12.1% CAGR during 2021–2028.
Based on application, the Europe tissue engineering market is segmented into orthopedic, musculoskeletal, & spine, skin & integumentary, cardiology and vascular, neurology, cancer, gi, gynecology, urology, and others. The orthopedic, musculoskeletal, & spine segment held 34.4% market share in 2021, amassing US$ 1,327.28 million. It is projected to garner US$ 2,945.24 million by 2028 to expand at 12.1% CAGR during 2021–2028.
Based on country, the Europe tissue engineering market has been segmented into Germany, the UK, France, Italy, Spain, and Rest of Europe. Our regional analysis states that Germany captured 22.4% market share in 2021. It was assessed at US$ 866.12 million in 2021 and is likely to hit US$ 2,060.52 million by 2028, exhibiting a CAGR of 13.2% during the forecast period.
Key players dominating the Europe tissue engineering market are Zimmer Biomet; B. Braun Melsungen AG; Stryker Corporation; AbbVie, Inc.; Integra LifeSciences Holdings Corporation; Organogenesis Inc.; Medtronic; Baxter International Inc.; Johnson and Johnson Services, Inc.; 3M; and Cook Biotech Inc. among others.
- In December 2021 Baxter International Inc. had completed its acquisition of Hillrom. Baxter paid $156.00 in cash for each outstanding share of Hillrom common stock for a purchase price of $10.5 billion (based on Hillrom share counts at closing).
- In December 2020, Zimmer Biomet Holdings, Inc. announced that the company had completed the acquisition of A&E Medical Corporation, a Vance Street Capital Portfolio Company, for $150 million in cash at closing and $100 million in cash payable in 2021.
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